Notice of Dividend Amount • Dec 3, 2013
Notice of Dividend Amount
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Head Office: Gala Tower, 197 Makarios III Avenue, CY-3030 Limassol Postal Address: P.O.Box 50019, CY-3600 Limassol, Cyprus Tel: +357·25·89·10·00 Fax: +357·25·34·32·11 E-mail: [email protected] www.galatariotisgroup.com
• article 5 (1) of the Cyprus Law 114 (1) of 2005 (the Public offer and Prospectus law of 2005)
For the distribution of a dividend in the form of shares that will be issued at an issue price of €0.17 each. Will be issued approximately 29.411.765 new shares of nominal value €0.17 each, depending on the configuration register of shareholders until the date of dividend distribution.
K + G Complex Public Company Ltd was incorporated in Cyprus in 1981.
The main activities of the company are the development and sale of residential units, development and sale of land located in the Amathus area of Limassol and holding of investments.
The Company's head office is located at 197 Makarios III Avenue, 3030 Limassol (telephone +357-25- 891000).
In accordance with
• article 5 (1) of the Cyprus Law 114 (1) of 2005 (the Public offer and Prospectus law of 2005)
not require to publish a prospectus for distribution of dividends to existing shareholders in the form of shares of the same class as existing, if these shares are of the same class as the shares already admitted to trading on the same regulated market, and where it becomes available to the public document, which contains information on the number and nature of the shares.
The responsible persons for the preparation of this document are Mr. Tasos Anastasiou, Executive Director and Mrs. Elena Stylianou, Finance Manager.
At its meeting held on 8 November 2013, the Board of Directors of the Company decided to distribute a dividend of €0.05 per share in the form of shares, with an issue price of €0.17 per share (the 'Issue Price'). The decision of the Board of Directors to distribute a dividend in the form of shares from the profits of the year 2011 will have to be approved by a special resolution at an Extraordinary General Meeting of the shareholders of the Company, that will take place at Le Meridien Limassol Spa & Resort hotel in Limassol, on Thursday 5 December 2013 at 10:00 a.m.
The 'Issue Price', has been determined based on the nominal value of the share. The issue of new shares to shareholders as a dividend will be based on the net payable dividend. The amount of the net payable dividend to be distributed to each shareholder will not be paid in cash but will be used for the full payment of new ordinary shares of the Company that will be issued at the Issue Price and will be allocated as fully paid shares to the shareholders. The actual number of shares to be issued to each shareholder will be determined by the division of the amount of net payable dividend in the form of shares corresponding to each shareholder by the Issue Price for each ordinary share of the Company. Where the number of shares to be allocated to each shareholder is a fractional number, then if this number is less than ½ it will be ignored, but if this number equals or is greater than ½ then one additional whole share will be granted.
The new shares resulting from the issue will be allocated to existing shareholders on the payment date of the dividend. The Company will take all necessary actions for the listing and simultaneous commencement of trading of the new shares on the Cyprus Stock Exchange (CSE) which is expected to commence within three weeks from the date of payment of the dividend.
The new shares to be issued will have the same rights with the existing shares and will be entitled to participate fully in any future dividend.
For any further information or clarification, please contact Mrs. Elena Stylianou, at Tel. +357-25-891000.
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